GlobalData offers a comprehensive analysis of Tencent, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Tencent‘s ESG performance. GlobalData’s company profile on Tencent offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Tencent, a Chinese multinational conglomerate, has demonstrated its commitment to environmental stewardship with its efforts to minimize operational impact and promote environmental benefits through innovative products and technologies. This is further supported by a defined ESG Working Group and reporting mechanism. Tencent's latest filings mentioned the keywords 'Carbon' and 'Emissions' most number of times in relation to 'Climate Change'.
The company plans to provide digital low-carbon transition solutions for customers, including digital upgrades in the energy industry, to support the low-carbon digital transition of different sectors. Tencent aims to reduce the carbon footprint of its products and services, provide low carbon choices to customers, and implement a carbon allocation system in accordance with operational site requirements and exploring carbon trading mechanisms. The company is also using renewable energy and improving energy efficiency to reduce its carbon emissions.
Tencent has committed to achieve carbon neutrality in operations and supply chain by 2030. In 2022, the company reported Scope 1 emissions of 172,137.9 tonnes CO2e and Scope 2 emissions of 2,650,073.3 tonnes CO2e, and Scope 3 emissions of 2,917,512.5 tonnes CO2e. The company has committed to achieve a 70% reduction in absolute Scope 1 and 2 emissions, and a 30% reduction in absolute Scope 3 emissions by 2030.
Tencent plans to achieve 100% renewable electricity by 2030, reduce by 15% its electricity consumption per capita in company-owned office buildings in Mainland of China by 2025, all company-owned office buildings in Mainland of China will implement waste sorting, and 100% of the destroyed hard disk components and discarded lead-acid batteries to be properly disposed by qualified institutions.
In conclusion, Tencent has committed to reduce its carbon emissions, it has further refined its carbon reduction pathway based on its carbon neutrality commitment and set absolute emissions reduction targets aligned with the Paris Agreement, with targets covering Scope 1, 2 and 3 emissions, which have been validated by SBTi.